Used Car Market

Delhi HC raps state government on lax regulation of pre-owned car sales

The High Court raised concerns over weak regulation of used vehicle sales, noting that a car involved in the Red Fort blast passed through multiple dealers while its registration remained unchanged

India's used car mkt hits 5.9 mn units as SUVs, premium models fuel growth

India's pre-owned car market is expanding fast as buyers prioritise SUVs, safer models, trusted brands, and certified dealers - signalling a shift from affordability to aspiration in FY25

India's top used-car startups line up for IPOs worth over $1 billion

Three Unicorn startups - CARS24 Services Pvt., CarDekho and Spinny - that buy and sell pre-owned vehicles are in early talks with bankers to assess investor appetite

What are zero-mileage used cars & why is China planning to ban their sale?

China plans to ban resale of cars within six months of registration to curb the growing sale of zero-mileage used cars, which distort sales data, affect buyers, and allow misuse of subsidies

Used-car sales to expand 8-10% in FY26, outpace new vehicles: Crisil

The used-to-new car sales ratio has increased to 1.4 from less than 1 five years ago. The market value of these used cars is estimated to be around Rs 4 trillion, nearly matching that of new car sales

Trust deficit drives first-time car buyers to new models, says new study

Most first-time car buyers last year preferred new over used cars, citing mistrust in the used market. Many feel used car prices are inflated, sometimes matching or exceeding new car costs

More women take the driver's seat: 46% of used car buyers are female

Hatchbacks remain the most popular choice among women in the pre-owned market, with 60 per cent of buyers opting for automatic variants for ease of driving, indicates a Spinny report

China's used car exports surge, driven by demand from Central Asia

The Khorgos Gateway, connecting northwest China to Kazakhstan, has become a major export hub for China's pre-owned cars

Used car market overtakes new car sales in India: CARS24's report

Maharashtra, Uttar Pradesh, and Delhi emerged as key drivers of the used-car boom, reflecting diverse regional demands

Do you need to pay 18% GST on 'loss margin' of EV resale? Explained

GST on resale of used vehicles by businesses has been raised to 18% from 12%, bringing the used EV market at par with other petrol and diesel vehicles

Tata Motors taps used car market to boost electric vehicle resale, exchange

The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, the company has already started work with used online car marketplace Spinny

Technology, easy financing for used cars will give advantage: Cars24

Company holds around 4 per cent of the total used cars market share: co-founder

Demand for new vehicles up, as used car market see drop in prices: Report

Interestingly, this comes at a time when two-wheeler sales were seen increasing in new vehicles and the used vehicle category

Surge in demand for 'young' used cars outpaces supply, drives prices north

SUVs set to reach 45% of used car market soon

US to introduce mandatory emergency braking systems in new cars by 2029

The rule requires that systems detect pedestrians in both daylight and at night. Some small-volume manufacturers will be allowed to comply by September 2030

India's used car market size to touch $100 bn mark by 2034: CARS4's Chopra

Indian used car market is expected to touch the USD 100 billion-mark in the next ten years on the back of rising disposable incomes and a growing middle class, according to CARS24 Co-Founder and CEO Vikram Chopra. As per the findings of the Gurugram-based online used car marketplace, there are changes in market dynamics with customers opting for frequent upgrades when it comes to cars. "According to our internal study, the anticipated growth of the Indian used car market is set to occur at a 15 per cent CAGR, increasing from USD 25 billion in 2023 to USD 100 billion by 2034," Chopra told PTI in an interaction. The growth trajectory is propelled by various factors unique to the Indian market, including urbanisation and a growing middle class, which is changing consumer preferences and boosting the demand for affordable mobility solutions, he added. Chopra noted that when CARS24 began its journey eight years ago, the used car market size stood at around USD 10-15 billion. "I think,

Planning to buy a car? Minimise tenure, maximise down payment on loan

Selling the old car independently, rather than going for an exchange offer, may fetch better value

TN used car market records 80% jump in sales till June 2023: CARS24

Pre-owned vehicle sale, purchase, and financing platform provider CARS24 on Tuesday said it has witnessed a noteworthy transformation in the used car market in Tamil Nadu, with practicality taking precedence over luxury. The southern state was also witnessing a significant rise in demand for used cars with an 80 per cent surge in sales recorded during the first 6 months of the year. While popular models from automaker Maruti Suzuki India Ltd remain long-standing favorites, customers in Tamil Nadu were exploring better options including hatchbacks Renault Kwid, Volkswagen Polo, and mid-size sedan Honda City. "These models have captivated the attention of local car buyers, signifying an evolution in their preferences and a departure from conventional choices," CARS24 said in a statement here. Maruti Suzuki continues its strong presence in Tamil Nadu with its popular hatchback Alto800 standing out as the preferred model during the first six-month period of 2023. Tamil Nadu's car mark

Online used-car marketplace Shift Technologies lays off 30% of workforce

US-based online marketplace for buying and selling used cars Shift Technologies has reduced its workforce by 30 per cent

Govt finalises rules for used car market, aims to resolve host of issues

Move to curb rise of fraudulent intermediaries, address disputes over third party damage liabilities